CANADA FX DEBT-C$ flat in holiday-subdued trade; oil slumps

Reuters Staff

2 Min Read

(Adds strategist comment, updates prices)
* Canadian dollar at C$1.3265, or 75.39 U.S. cents
* Canadian and U.S. bond markets closed
TORONTO, Nov 11 (Reuters) - The Canadian dollar was flat
against its U.S. counterpart on Wednesday following two days of
small gains after Friday's slump on U.S. jobs data that raised
the likelihood of a December rate hike from the Federal Reserve.
The currency pair had little impetus to move with both U.S.
and Canadian bond markets closed for public holidays.
"We've been in a minor little pullback since Friday's highs
but it's been fairly shallow," said Matt Perrier, managing
director of foreign exchange sales at BMO Capital Markets.
"I would suspect we continue to see this move unfold," he
said, referring to a broader trend of U.S. dollar strength.
The Canadian dollar was at C$1.3265 to the
greenback, or 75.39 U.S. cents, at 4 p.m. (2100 GMT), according
to Thomson Reuters data, the same level as Tuesday's official
close.
Perrier said any further strength in the Canadian dollar
would likely fade between C$1.32 and C$1.3150, while a break
above Friday's high near C$1.3320 would spark more greenback
buying.
The currency's strongest level of the session was C$1.3234,
while its weakest was C$1.3284.
U.S. crude prices settled down 2.9 percent at $42.93
a barrel, while Brent crude lost 3.4 percent to $45.85.
Industry data showed an increase in U.S. stockpiles, while
Iraqi supply also rose.
The Canadian dollar was flat or underperforming against most
of its key currency counterparts.
(Reporting by Alastair Sharp; Editing by Lisa Von Ahn and James
Dalgleish)